Nextant Aerospace And Asia Pacific Jets Announce Agreement For Delivery Of 400XT Aircraft For Service in Asia

10-Plane Order Represents First in the Asian Market for the Nextant 400XT

CLEVELAND, OHIO AND SINGAPORE, August 21, 2012 – Nextant Aerospace today announced that Asia Pacific Jets has placed an order for 10 Nextant 400XT aircraft, the world’s only FAA-certified remanufactured business jet. All 10 Nextant 400XT aircraft will be delivered over a period of three years, with a portion outfitted as 400XT air ambulances and others as normally outfitted 400XT business jet aircraft. Asia Pacific Jets also will serve as a sales agent in Asia for the 400XT, and has announced a new partnership with Hong Kong-based AirMed Asia, a subsidiary of AirMed International.

The first two of the 10-aircraft order will be delivered by the end of 2012, a timeframe aligned with the opening of a new Singaporean base that Asia Pacific Jets and AirMed Asia are launching later this year through a strategic partnership. Utilizing its strong operational background, AirMed Asia will coordinate maintenance and warranty support for Nextant Aerospace in the region, providing 400XT owners with exceptional post-delivery product support.

“We are proud that Asia Pacific Jets has selected the Nextant 400XT, and to see the aircraft begin service on the Asian continent,” said Kenneth C. Ricci, chief executive officer of Nextant Aerospace. “With more than 15 400XT aircraft now in operation across the globe, feedback from operators has been outstanding. We are elated that the aircraft is performing so well for its owners, and look forward to introducing this groundbreaking aircraft – with its unprecedented combination of value and performance – to additional markets around the world.”

Jeffrey Tolbert, the chief executive officer of AirMed International, added, “We know based on our extensive experience flying the Beechjet 400A/XP as an air ambulance that the aircraft provides great versatility for air medical services. The Nextant 400XT will offer AirMed Asia and our partners at Asia Pacific Jets everything we like about the Beechjet, and everything one would expect from a brand-new light jet, but at a fraction of the cost. This includes range that will enable nonstop flights from our Singapore base as far west as Mumbai, India, and as far north as Shanghai, China, along with the absolute lowest operating cost basis in its class.”

The resulting aircraft has a 2,005 nautical mile (3,713 km) range and cruising speed of 460 nautical miles per hour (740 km per hour). It supports a remarkable 30 percent reduction in operating costs over the Beechjet 400 A/XP, fuel efficiency improvements of 20-30 percent, depending on the length of the flight segment, significantly reduced carbon emissions and noise compliance that exceeds Stage IV requirements. The 400XT is available at a cost about half that of competing “clean-sheet” designs.

The 400XT is considered to be a new type in the Aircraft Bluebook. Further options include additional avionics features, and an optional seating configuration that allows for the most leg room of any light jet in production without sacrificing seating capacity.

About Nextant Aerospace

Nextant Aerospace was founded in 2007 for the primary purpose of developing an aircraft modernization program. The company is credited with being the first to introduce the concept of aircraft remanufacturing to the business jet market. The Nextant 400XT is a remanufactured Beechjet 400A/XP equipped with the Williams FJ44-3AP engines and Rockwell Collins Pro Line 21™ integrated avionics suite. The new aircraft also benefits from significant aerodynamic enhancements including newly designed nacelles, pylons and an improved engine mounting configuration. The 400XT is delivered as a new aircraft with a two-year, full aircraft warranty. Nextant’s design and manufacturing facility is located in Cleveland, Ohio, at the Cuyahoga County Airport. For more information, like us on Facebook, follow us on Twitter @nextantaero or join us onLinkedIn.

About Asia Pacific Jets

Asia Pacific Jets is a Singapore-based company which provides medical evacuation and VIP corporate charters to its established customer base. The company's founder, John Ling, is an entrepreneur with business interests in aviation, hospitals, hotels, textiles, restaurants and real estate developments throughout Asia.

About AirMed International

AirMed International is the leading U.S. air ambulance service and two-time winner of the International Travel Insurance Journal “Air Ambulance of the Year” award. Chosen as fixed-wing transport for the world-renowned Mayo Clinic, AirMed operates a fleet of fully customized fixed-wing medical aircraft from multiple bases worldwide including a base in Hong Kong for its subsidiary company AirMed Asia. For more information about AirMed and the complete medical and aviation capabilities the company offers, see www.airmed.com or www.airmedasia.com.